Peachy loans and their multiple repayment options

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Editor: We asked some of our staff to research other lenders and write an article about them. The information in this article came from publically available sources as was available at the time the article was researched. Readers should be aware that this article does not contain 'insider knowledge' of the company researched and that they policies and processes may have since changed.

If anyone is ever looking to borrowing money they have to know that there are a large number of different types of borrowing people can take. Short term loans for example is just one type of loan, here people can borrow relatively small amounts of cash and then repay the debt over a limited period of time. A common type of short term loan is a single instalment payday loan. Instalment loans are a common borrowing option alternative that allow people the chance to borrow potentially larger amounts for repayments then due back over longer periods of time. Not a large number of people know this but a Mortgage is actually a type of instalment loan. Another common way to borrow money is via the use of credit cards. They of course allow people the chance to borrow money by people purchasing goods or withdrawing cash on credit via the actual card itself. All are very common ways to borrow money.

In this article below I am going to focus on short term loans as a way to borrow money and I will explain about just one lender that offer this product.

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Peachy is just one of many financial lenders that offer people the chance to borrow money in a short term loan format. Most short term loans that are taken out will range from amounts somewhere between £100.00 and up to £1000.00 and a short term loan must normally be repaid over a maximum repayment term of twelve months. Peachy loans are no different. People can borrow from Peachy amounts somewhere between just £50.00 up to £700.00 as a maximum loan amount. It may be safe to assume that first time borrowers with this or other lenders offering similar products may restrict first time borrowers to lowered amounts.

I really do like the flexibility that this product offers. As mentioned above customers that use Peachy can choose from loans from just £50.00 up to £700.00 which is a relatively large sum of money for this type, and cost, of borrowing. For the smaller loans they may just be taken to help people tide their finances over until the next time they are paid by their employer however larger amounts supplied by the lender could be used for a long term financial need. Any short term loan taken must not be taken for a long term financial purpose due to large interest being applied on the loans. Short term loans are meant to be borrowed with the short term durations in mind. Peachy can offer the borrower the chance to repay in a single instalment or if that is not possible then they can offer a whole host of different repayment terms up to a twelve month period of time. Always remember when selecting any instalment loan, the longer the loan is taken for the more repaid back towards the debt.

 

Peachy loans may be the borrowing solution

 

When it comes to borrowing money people may not actually realise that there are nearly always going to be a number of different options available for them. That is why people should always explore the different options to what they can borrowing rather than just apply for the first one that comes along. People these days can often take out both short term loans and instalment loans where they can borrow a range of different loan amounts and then repay the debt over a number of different repayment terms. Another common way to borrow money would be by the use of credit cards, these allow people the chance to pay for a range of different items or they can withdraw cash on credit up to a set limit via the use of the card itself. All three of these types of finance are very common from the financial market place and each of them will have both positives and negatives associated with the product. In this article I am going to focus on loans by the lender Peachy and I will explain in detail what they offer people.

Peachy loans offering people the chance to borrow short term loans for repayments due over periods of up to a single year. A definition of a short term loan is a small loan provided by a lender for repayment then due back within a twelve month period of time. They are very common and this way of borrowing from the financial market really has risen over the last few years. More and more people seem to be turning to short term loans as a way to pay for items and fix their borrowing needs. Peachy loans offer people the chance to take out £50.00 over periods up to year or any other amounts up the maximum loan value of £750.00. People can repay their loans over just a few days or they can pay over the longest duration they possibly can. That gives borrowers the real flexibility they need to repay any loan. The longer people have a loan capital for the more they repay back to that lender in total and that is always worth bearing in mind.

People can apply for a loan in an application process that should only take a few minutes to complete and then if that same application is then accepted by the lender that person can get the funds the same day as when they applied. Peachy aim to offer same day funding and they can action this for free of charge. They try to fund customers within an hour of approving the loan application. That can then be seen by many as suitable borrowing for people who need small amounts of cash and they need it very quickly.